Supreme Court rules against delisting PTT Plc

The court however ordered PTT to transfer the rights in expropriated areas and gas transmission pipelines to the state.

Earlier most analysts also believed the possibility that PTT's stock could be taken off the big board was remote because damage to the economy and investor confidence would be extensive.

The court read out its findings, starting 10am amid deep anxiety from investors, who fear a de-listing verdict would not only hurt PTT stock but send the market into a tailspin.

Last year the Consumers Foundation and a group of five people petitioned the Supreme Administrative Court to revoke the Royal Decree Determining Powers, Rights and Benefits of PTT Plc of 2001, and the Royal Decree Determining the Time for Repealing the Laws Governing the Petroleum Authority of Thailand of 2001.